On January 9, 2026, Vietnam Airlines (HVN) approved the transformation of its Aviation Services Company branch (VASCO) into a 100%-owned limited liability company. This move aims to separate business operations, granting more independence in financial management. VASCO will evaluate its ATR 72-500 fleet for valuation as part of the new entity’s capital, ensuring the ability to serve short flights to airports with limited infrastructure such as Con Dao, Ca Mau, and Dien Bien.
VASCO must resolve all financial issues from the previous branch and develop a collaboration mechanism with the parent company to maintain financial balance post-transition. The resolution also encourages clarifying the strategic relationship between VASCO and Pacific Airlines to optimize operations within the VNA group.
Founded in 1987, VASCO expanded its operations from technical service flights to international cargo transport in 2001. From 1999 to 2023, VASCO achieved revenues exceeding VND 9,194 billion and profits of VND 178 billion, while also providing surveying and aircraft maintenance services.
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